Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

I am concerned: Erdoğan and elections

Current developments are disturbing. It does not take an oracle to guess that when the elections get even closer, the country will move further towards insanity if Erdoğan does not change his stance on a number of issues and cease his ferocious rhetorical tactic of designating every critic a traitor. Hrant Dink was assassinated as a result of such a campaign of hate.

Wife of arrested teacher: I was offered to lie about others in exchange for my husband’s release

The wife of one of the teachers detained in a government-led operation against people deemed to be affiliated with a civil society organization demonized by the ruling party was asked to provide false testimony against those in custody in exchange for having her husband released.

Probe launched into daily Taraf for attempting to cause chaos

The complaint was based on the content of newspaper articles written by Yıldıray Oğur, Ali Karahasanoğlu, Alper Görmüş and Cem Küçük that are being used by the plaintiff as evidence of Taraf’s “crimes.”

Gulen blasts ‘despicable’ 2016 Turkey coup bid, subsequent ‘witch hunt’

US-based Muslim cleric Fethullah Gulen, the man blamed by Turkey for a failed coup attempt a year ago, on Friday again denied any involvement in what he called a “despicable putsch,” and called on Ankara to end its “witch hunt” of his followers.

Bank Asya mandates Goldman for strategic partnership

Bank Asya said on Wednesday it has mandated Goldman Sachs as its financial advisor for a strategic partnership, without providing further details.The Islamic lender made the announcement in a filing with the İstanbul stock exchange.

Erdogan vows for genocide of Gulen sympathizers: “We will not give them the right to life!”

Turkish President Recep Tayyip Erdoğan, who has been waging a relentless war against followers of the faith-based Gülen movement in Turkey for the past several years, has said Gülen movement sympathizers in the country will not enjoy the right to life.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Fethullah Gülen: ‘I have no other goal than to please God’

Please do not insult the intelligence of the people

Why was I mistaken about political Islamism?

NBA Player Enes Kanter: I’ve Spoken Out Against Turkey’s President Erdogan and Now I Can’t Go Home

Turkish police to detain another woman immediately after delivery

Gülen’s lawyer: Pro-government media ignores ruling of Supreme Court of Appeals

Arınç says Gülen’s offer to hand over prep schools ‘sacrifice’

Copyright 2026 Hizmet News